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Many African countries change their currency's appearance when a new government takes power (often the new head of state will appear on bank notes), though the notional value remains the same. Also, in many African currencies there have been episodes of rampant inflation, resulting in the need for currency revaluation (e.g. the Zimbabwe dollar).
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The South African rand, or simply the rand, (sign: R; code: ZAR [a]) is the official currency of South Africa. It is subdivided into 100 cents (sign: "c"), and a comma separates the rand and cents. [ 1 ]
Entrance of a Food Lover's Eatery outlet. Exterior of the Food Lover's Eatery outlet on Heerengracht Street in Foreshore, Cape Town. Food Lover's Market is a South African supermarket chain that operates franchised grocery stores and convenience stores in Southern Africa. [5] The company is a member of the Franchise Association of South Africa. [1]
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The Ora (pronounced; symbol: ะค) [1] is the local currency of Orania, an Afrikaner town in South Africa first issued in April 2004. It is pegged at par with the South African rand . [ 1 ] The name, recalling that of the town where it circulates, derives from Latin aurum , meaning "gold". [ 2 ]
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So far only three of the 53 member states of the African Union in 2009 have committed to using the currency (in 2022, the African Union has 55 members). [ citation needed ] Egypt , Eswatini , and Lesotho have logged reservations over the precise date of monetary union and have requested a two- to three-year delay.